Weibo Co. (NASDAQ:WB – Get Rating) shares were down 4.4% during trading on Thursday after HSBC lowered their price target on the stock from $31.00 to $26.00. HSBC currently has a hold rating on the stock. Weibo traded as low as $20.90 and last traded at $21.02. Approximately 20,853 shares were traded during trading, a decline of 98% from the average daily volume of 985,110 shares. The stock had previously closed at $21.99.
A number of other research firms have also weighed in on WB. JPMorgan Chase & Co. reduced their price objective on Weibo from $32.00 to $24.00 in a research note on Monday, March 14th. Zacks Investment Research cut Weibo from a “hold” rating to a “sell” rating in a report on Wednesday, May 18th. 86 Research upgraded Weibo from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Friday, March 4th. Benchmark lowered their target price on Weibo from $56.00 to $39.00 in a report on Wednesday. Finally, StockNews.com cut Weibo from a “buy” rating to a “hold” rating in a report on Thursday, May 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.60.
Several institutional investors have recently bought and sold shares of the company. Eaton Vance Management increased its holdings in Weibo by 56.0% in the third quarter. Eaton Vance Management now owns 780 shares of the information services provider’s stock valued at $37,000 after buying an additional 280 shares during the last quarter. Parallel Advisors LLC boosted its stake in Weibo by 331.3% in the fourth quarter. Parallel Advisors LLC now owns 828 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 636 shares in the last quarter. Zullo Investment Group Inc. acquired a new position in Weibo in the fourth quarter valued at $40,000. Advisor Group Holdings Inc. boosted its stake in Weibo by 88.9% in the first quarter. Advisor Group Holdings Inc. now owns 1,383 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 651 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Weibo by 102.3% in the fourth quarter. Signaturefd LLC now owns 1,384 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 700 shares in the last quarter. 71.37% of the stock is currently owned by institutional investors and hedge funds.
The company has a debt-to-equity ratio of 0.42, a current ratio of 2.22 and a quick ratio of 2.22. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 0.74 and a beta of 0.88. The firm’s 50 day simple moving average is $22.65 and its 200-day simple moving average is $28.64.
Weibo (NASDAQ:WB – Get Rating) last announced its earnings results on Wednesday, June 1st. The information services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.14. Weibo had a net margin of 18.98% and a return on equity of 13.38%. The business had revenue of $484.60 million during the quarter, compared to the consensus estimate of $473.58 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, analysts forecast that Weibo Co. will post 2.38 EPS for the current year.
Weibo Company Profile (NASDAQ:WB)
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover content in the People’s Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.